Connecticut’s W.R. Berkley Corporation Sells Real Estate Investment

July 10, 2017

W. R. Berkley Corporation has sold its real estate investment at 1101 New York Avenue NW in Washington, D.C.

The company expects to report a realized pre-tax gain of approximately $120 million on the sale in the third quarter of 2017, which is in addition to approximately $22 million in pre-tax earnings related to the property in prior years.

The sale is in keeping with the company’s long-term strategy of investing for total return in order to continue delivering long-term value creation to shareholders despite a low interest rate environment.

Celebrating 50 years, W. R. Berkley Corporation is a Greenwich, Conn.-based insurance holding company that operates worldwide in two segments of the property casualty business: insurance and reinsurance.

Source: W.R. Berkley Corporation

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